Guptas ordered to allow business rescue practitioners into Oakbay’s offices
Directors of Gupta-owned Oakbay have been denied their leave to appeal a court order instructing them to allow business rescue practitioners (BRPs) access to Oakbay’s Sandton offices. A full bench of the Pretoria High Court heard arguments on the matter on April 23 and delivered judgment earlier on Thursday. On Wednesday, Oakbay had also filed a court bid to stop the BRPs from having a shareholders meeting next week‚ where the business rescue plans for the Gupta businesses could be adopted. The BRPs have until close of business on Friday to file responding papers. After two months of eight Gupta companies being under business rescue‚ Oakbay’s CEO Ronica Ragavan and other senior managers barred the BRPs‚ Louis Klopper and Kurt Knoop‚ from being able to enter the premises. This forced the two to bring an urgent application on April 10 as they required access to documents held at the Oakbay offices to continue running the eight companies — which include Optimum and Koornfontein Coal Mi...
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